0) Call to Order

President Sokolski noted that a quorum was present and called the meeting to order at 1:24 p.m.

1) Approval of Minutes of the November 27, 2001 Meeting

Mr. Sokolski asked for comments on the minutes of the November 27, 2001 meeting. Mr. Schmelkin stated that minutes were revised to replace the term "membership" with the term "fellowship".

Ms. Fierstein moved that the revised minutes be approved. Mr. Riley seconded. The motion carried without objection.

2) Ratification of Agreement to Appoint Richard A. Eisner & Co. as Auditors for FAE

Mr. Riley moved and Ms. Fierstein seconded a motion to ratify the appointment of Richard A. Eisner & Co. as the outside auditor for FAE. The motion carried unanimously.

3) Financial Statements for the Eight Months Ending January 31, 2002

The Board of Trustees discussed the financial statements for the period ended January 31, 2002.

Ms. Fierstein moved and Ms. Newman-Limata seconded a motion to restore registration fees of $45 for evening technical sessions, but not for committee and chapter CPE. The motion carried unanimously.

4) Education Mega Issue at the Board of Directors Meeting of February 2, 2002

The Trustees discussed the recommendations of the Society’s Board of Director’s Mega Issue in Education. By consensus, the Trustees took the following actions:

• Seminar and conference attendees who register at the door will be charged a $25 late registration fee;
• Per the Society Board’s February 2 resolution, the Trustees established the minimum number of attendees to prevent cancellation of an educational event at 8; however, the Director of Education is authorized to use a lower number as the minimum if appropriate for any particular educational seminar; and
• Attendees who cancel more than two weeks before an educational seminar or conference will receive a tuition refund, less a $25 administrative fee. No refunds will be given to any attendee who cancels within two weeks of the event.

5) FAE Calendar of Events and Budget for 2002-03

Mr. Schmelkin briefed the Trustees on the FAE budget, which included a $966,000 deficit. This deficit reflected an allocation of overhead charges based on an annualization of the expenses through November 30, 2001. A discussion ensued on the budget, including the following suggested ways staff could reduce the deficit:

• Ms. Chambers was directed to reallocate overhead charges using information available through January 31, 2002;
• Assume a 10 percent increase in attendance over the current year;
• Reimpose registration fee for committee-developed evening technical sessions; and
• Consider cut backs on the least profitable 10 percent of course offerings.

Ms. Newman-Limata noted that the Society’s Board had resolved to underwrite up to a $300,000 FAE deficit, and that these changes would not be sufficient to meet this goal. Mr. Sokolski noted that this was simply the best the Trustees could do and reminded those present that FAE’s educational programs served more Society members than any other Society program except for the newspaper and the magazine.

The Trustees suggested that FAE create two additional conferences in June, holding these conferences in New York City and Albany. They also directed that a third conference be developed in a "hot topic" area through an alternative route other than the traditional committee structure.

6) Adjournment

Following a motion to adjourn by Ms. Fierstein, which Mr. Riley seconded, the Trustees voted to adjourn the meeting at 4:00 p.m.